Mutual of America Capital Management LLC Decreases Stock Position in IDACORP, Inc. (NYSE:IDA)

Mutual of America Capital Management LLC lowered its stake in IDACORP, Inc. (NYSE:IDA) by 43.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 35,198 shares of the energy company’s stock after selling 26,985 shares during the period. Mutual of America Capital Management LLC’s holdings in IDACORP were worth $3,461,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of IDACORP by 1.7% in the first quarter. BlackRock Inc. now owns 6,316,570 shares of the energy company’s stock worth $684,274,000 after buying an additional 105,226 shares during the period. Vanguard Group Inc. increased its holdings in IDACORP by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,118,190 shares of the energy company’s stock valued at $605,762,000 after purchasing an additional 111,296 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in IDACORP by 3.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,031,531 shares of the energy company’s stock valued at $326,951,000 after purchasing an additional 91,714 shares during the period. State Street Corp increased its holdings in IDACORP by 15.2% during the 1st quarter. State Street Corp now owns 1,674,867 shares of the energy company’s stock valued at $193,213,000 after purchasing an additional 221,072 shares during the period. Finally, Wellington Management Group LLP purchased a new position in IDACORP during the 3rd quarter valued at about $101,858,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. TheStreet downgraded IDACORP from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Wells Fargo & Company reduced their price target on IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. Morgan Stanley boosted their price target on IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Guggenheim cut IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research report on Monday, January 22nd. Finally, Mizuho cut their price objective on IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, IDACORP has a consensus rating of “Hold” and a consensus price target of $93.80.

IDACORP Stock Performance

IDACORP stock opened at $90.37 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58. The stock’s 50 day simple moving average is $90.08 and its two-hundred day simple moving average is $94.02. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $112.96. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 17.58 and a beta of 0.56.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. The firm had revenue of $411.95 million for the quarter, compared to analysts’ expectations of $429.84 million. During the same period in the previous year, the firm posted $0.83 EPS. As a group, analysts expect that IDACORP, Inc. will post 5.32 earnings per share for the current fiscal year.

IDACORP Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.